Question
When we make adjusting journal entries, does this just affect revenue and expense accounts (subset of OE)? Or can asset and liability values be affected
When we make adjusting journal entries, does this just affect revenue and expense accounts (subset of OE)? Or can asset and liability values be affected as well? Can we make ANY normal entries to revenue or expense and NOT impact either of the other two categories?
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
2nd Canadian Edition
0176707123, 978-0176707125
